Custom Index Systems LLC bought a new position in Keurig Dr Pepper Inc. (NASDAQ:KDP – Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,752 shares of the company’s stock, valued at approximately $253,000.
Other hedge funds have also added to or reduced their stakes in the company. State of Michigan Retirement System boosted its position in Keurig Dr Pepper by 3.6% in the first quarter. State of Michigan Retirement System now owns 285,400 shares of the company’s stock worth $8,753,000 after purchasing an additional 9,800 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Keurig Dr Pepper by 0.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,084,471 shares of the company’s stock worth $94,601,000 after purchasing an additional 9,674 shares during the last quarter. Norden Group LLC purchased a new stake in shares of Keurig Dr Pepper during the 1st quarter worth approximately $1,315,000. Maryland State Retirement & Pension System lifted its holdings in shares of Keurig Dr Pepper by 2.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 74,810 shares of the company’s stock valued at $2,297,000 after acquiring an additional 2,023 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in shares of Keurig Dr Pepper by 254.6% in the first quarter. Commonwealth Equity Services LLC now owns 95,877 shares of the company’s stock valued at $2,941,000 after acquiring an additional 68,840 shares during the period. 85.23% of the stock is currently owned by hedge funds and other institutional investors.
Keurig Dr Pepper Stock Performance
NASDAQ KDP opened at $34.58 on Monday. The company has a current ratio of 0.51, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average is $36.73 and its two-hundred day moving average is $34.67. Keurig Dr Pepper Inc. has a 12-month low of $28.61 and a 12-month high of $38.28. The stock has a market capitalization of $46.88 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 2.73 and a beta of 0.62.
Keurig Dr Pepper Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.66%. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, September 27th. Keurig Dr Pepper’s payout ratio is 59.35%.
Analysts Set New Price Targets
A number of research analysts have recently commented on KDP shares. Barclays upped their target price on Keurig Dr Pepper from $37.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft increased their price target on Keurig Dr Pepper from $36.00 to $37.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Jefferies Financial Group dropped their price objective on Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday. TD Cowen increased their price target on Keurig Dr Pepper from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Finally, Citigroup reduced their price objective on Keurig Dr Pepper from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.50.
Check Out Our Latest Report on Keurig Dr Pepper
Keurig Dr Pepper Profile
Keurig Dr Pepper Inc owns, manufactures, and distributors beverages and single serve brewing systems in the United States and internationally. It operates through three segments: U.S. Refreshment Beverages, U.S. Coffee, and International. The U.S. Refreshment Beverages segment manufactures and distributes branded concentrates, syrup, and finished beverages.
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